Aegis Reaffirms “Buy” Rating for iPass Inc. (IPAS)

Aegis reiterated their buy rating on shares of iPass Inc. (NASDAQ:IPAS) in a report issued on Thursday morning.

Several other research firms also recently weighed in on IPAS. Chardan Capital upgraded iPass from a neutral rating to a buy rating and set a $2.00 price objective for the company in a report on Thursday, August 4th. Maxim Group initiated coverage on iPass in a report on Wednesday, October 19th. They issued a buy rating and a $3.00 price objective for the company.

Shares of iPass (NASDAQ:IPAS) opened at 1.61 on Thursday. iPass has a one year low of $0.81 and a one year high of $1.89. The stock’s market cap is $106.68 million. The stock’s 50 day moving average is $1.65 and its 200-day moving average is $1.47.

iPass (NASDAQ:IPAS) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The firm earned $15.90 million during the quarter, compared to the consensus estimate of $16.03 million. iPass had a negative return on equity of 43.80% and a negative net margin of 13.91%. On average, equities analysts forecast that iPass will post ($0.12) EPS for the current year.

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In other news, CEO Gary A. Griffiths bought 40,000 shares of iPass stock in a transaction on Tuesday, November 8th. The stock was acquired at an average cost of $1.53 per share, for a total transaction of $61,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Tedesco bought 20,000 shares of iPass stock in a transaction on Tuesday, November 29th. The stock was purchased at an average price of $1.62 per share, with a total value of $32,400.00. Following the completion of the acquisition, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $170,100. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Adirondack Research & Management Inc. increased its position in shares of iPass by 1.5% in the second quarter. Adirondack Research & Management Inc. now owns 3,002,930 shares of the company’s stock worth $3,724,000 after buying an additional 45,476 shares in the last quarter. Vanguard Group Inc. increased its position in shares of iPass by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,180,536 shares of the company’s stock worth $2,704,000 after buying an additional 28,600 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of iPass by 14.1% in the second quarter. BlackRock Fund Advisors now owns 177,690 shares of the company’s stock worth $220,000 after buying an additional 21,972 shares in the last quarter. Institutional investors and hedge funds own 30.07% of the company’s stock.

About iPass

iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.